Trading Ideas
Xauusd Short
Sat, 24 Jun 2017 10:38:37 -0500
Waiting for push up to resistance zone for a 3rd tap then fall
XAUUSD: 3 Day Chart
Sat, 24 Jun 2017 07:47:11 -0500
Me fallit.
GOLD 1320 or 1200 where would it go first
Sat, 24 Jun 2017 06:53:26 -0500
Well, there was a spike upwards before the rate hikes but soon hikes made gold low and now it seems to get relaxed with 3 GREEN candles. In 1Day GOLD chart, Stochastic is in oversold area and is about to crossover, if crossover is successful and it comes in its 20.xx then gold is likely to go 1320 first. But meanwhile in 4H chart Stochastic, RSI are overbought. and its uncertain when those short traders will bring 1200 first. Lets see which side to go first.
it will be true£
Sat, 24 Jun 2017 00:17:43 -0500
CFTC COT whipsaw
Sat, 24 Jun 2017 00:13:39 -0500
The June 20th report had the wise guys throwing in the bull towel. They gave up 40,000 long gold contracts. The commercials swung a 38,000 net to the long side on gold. Joe public remains at 60% long. Open interest declined a good bit by 26,000 contracts. Looking at the moving average and that beautiful stochastic set up on the dailies, the commercials seem to have caught the turn. While sponsorship is crucial in pushing gold higher, many times they puke at the intermediate tops and bottoms. The COT report revealed big fund selling into June 16th. Commercials have supported the price in the 1240's. FACTORING Newmonts and Barricks all in cost of around 1,200$, I don't see much downside for gold here. Russia bought 22 tons on the last report. China is reporting small increases but we think most is hidden. China needs a good bit more physical. China controlling a fairly large percentage of Bitcoin miners. They are supporting the Bitcoin price, but I think it can and will get away from them in a panic. I mean what would you rather hold£ An ounce of physical gold at 1,250 or a Bitcoin at $2,700.00 that was $950 three months ago£ Kramer on CNBC trumpets that Bitcoin can go to a Million$$$. All in for the greater fools. The exchanges sic. I've looked at are far from robust. Kraken won't even approve my account, coinbase looks weak. How different is Mt. Gox than some of these players£ Tales of the teenage Bitcoin Millionaires. (please) I am looking for Bitcoin to trade to $1,724.00. Gold should be on the path to test 1,294 again. if this can hold then 1,304 is next. Silver has good play also and last week looked like a turn to me. The commodity funds sold 13,000 net silver futures and the commercials added 13,000 net longs. Feels like a turn. Target is 17.72. stay long gold and silver
May the Forces Be With You
Fri, 23 Jun 2017 22:19:23 -0500
Gold cannot fight gravity in the long haul. Based on this structure, it seems gold has a date with 950-area sooner rather than later. In the point of there, it should be a good bargain.
next few days are crucial looking for re-test confirmations
Fri, 23 Jun 2017 15:31:06 -0500
50 day moving average is the purple line depending which support it brakes wait for retest before jumping on
XAUUSD Buy (Daily chart)> Buy order
Fri, 23 Jun 2017 15:18:23 -0500
This direct buy order is an additional order to the buy limit order (see related ideas below), to make sure I'm in this high probability move. So the limit buy order is placed to double my position with lower risk and higher risk/reward, which is more favorable over simply doubling this direct buy order.
Fri, 23 Jun 2017 14:50:12 -0500
XAUUSD Buy (Daily chart)> Buy Limit order
Fri, 23 Jun 2017 14:49:14 -0500
Fri, 23 Jun 2017 13:54:53 -0500
Making another approach at the yearly TL, bounce from Fib
XAUUSD : Success! Bull run this intact
Fri, 23 Jun 2017 11:45:47 -0500
Our gold short was very profitable (and of course a break down of the ascending channel would have been great but oh well! lol) I am now long on this pair unless there is a break down of the price under the current bullish channel. Trade safe!
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